Morgan Stanley Reiterates Equal Weight Rating for Nuance Communications, Inc. (NASDAQ:NUAN)
Morgan Stanley reaffirmed their equal weight rating on shares of Nuance Communications, Inc. (NASDAQ:NUAN) in a research report sent to investors on Tuesday. They currently have a $18.00 price target on the software maker’s stock, down from their prior price target of $19.00.
A number of other research analysts have also weighed in on NUAN. Zacks Investment Research lowered shares of Nuance Communications from a hold rating to a sell rating in a research note on Tuesday. BidaskClub lowered shares of Nuance Communications from a hold rating to a sell rating in a research note on Wednesday, July 5th. Stifel Nicolaus raised their price target on shares of Nuance Communications from $16.00 to $19.00 and gave the company a hold rating in a research note on Wednesday, May 10th. Deutsche Bank AG reaffirmed a buy rating and issued a $25.00 price target on shares of Nuance Communications in a research note on Monday, June 12th. Finally, Barclays PLC reaffirmed a buy rating and issued a $22.00 price target on shares of Nuance Communications in a research note on Friday, May 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $20.89.
Nuance Communications (NASDAQ NUAN) traded up 0.99% during midday trading on Tuesday, hitting $17.26. The company had a trading volume of 1,317,106 shares. The firm’s market capitalization is $4.96 billion. The company has a 50 day moving average price of $17.80 and a 200 day moving average price of $17.36. Nuance Communications has a 1-year low of $13.44 and a 1-year high of $19.93.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $511.10 million during the quarter, compared to analysts’ expectations of $506.83 million. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. Equities research analysts forecast that Nuance Communications will post $1.11 earnings per share for the current fiscal year.
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In other Nuance Communications news, VP Adam Bruce Bowden sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $19.15, for a total value of $95,750.00. Following the transaction, the vice president now directly owns 149,414 shares of the company’s stock, valued at approximately $2,861,278.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $18.80, for a total transaction of $141,000.00. Following the completion of the transaction, the insider now directly owns 295,310 shares in the company, valued at $5,551,828. The disclosure for this sale can be found here. Insiders sold a total of 198,361 shares of company stock worth $3,756,673 over the last three months. Corporate insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUAN. Daiwa Securities Group Inc. raised its position in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after buying an additional 1,100 shares during the period. Ledyard National Bank raised its position in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares during the period. IFP Advisors Inc raised its position in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. World Asset Management Inc acquired a new position in Nuance Communications during the first quarter worth $180,000. Finally, Raymond James Trust N.A. acquired a new position in Nuance Communications during the first quarter worth $185,000. 86.17% of the stock is currently owned by institutional investors and hedge funds.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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